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Zoomlion Warns of Profit Plunge

By

Joanne Chiu

April 12, 2013 8:32 a.m. ET

HONG KONG—Zoomlion Heavy Industry Science and Technology Co. said its first-quarter earnings will likely be down as much as 80%.

The Chinese construction-equipment maker said in a statement Friday it expects to record a net profit for the January-March quarter of 417.75 million yuan to 835.5 million yuan ($67.4 million to $134.8 million), compared with 2.09 billion yuan a year earlier, because of "a significant decrease" in sales income as a slower economic recovery affected demand.